Japan Stocks: Dainippon Screen, OSG, Softbank, Sony, Yonekyu

Japan’s Nikkei 225 (NKY) Stock Average rose 83.60, or 1 percent, to 8,605.62 at the 3 p.m. close in Tokyo. The following were among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.

Developers: Mitsui Fudosan Co. (8801 JT), Japan’s second- largest developer by market value, climbed 4 percent to 1,242 yen and Mitsubishi Estate Co. (8802 JT), the No. 1, rose 2.9 percent to 1,297 yen after Deutsche Bank AG said Japan’s real- estate and construction sectors offer “a good refuge for investors.” Tokyu Land Corp. (8815) (8815 JT), a real estate company, gained 4.9 percent to 279 yen. Haseko Corp. (1808) (1808 JT), a general contractor, jumped 6.8 percent to 47 yen.

Dainippon Screen Manufacturing Co. (7735 JT) soared 6.5 percent to 528 yen, while Tokyo Electron Ltd. (8035) (8035 JT) gained 5.6 percent to 3,755 yen. Deutsche Bank boosted the investment ratings on the makers of semiconductor equipment to “buy” from “hold.”

JM Technology Inc. (2423) (2423 JF) surged 23 percent to 37,500 yen, the biggest gain since its listing of November 2004. The engineering company is the object of a takeover bid by software developer Mamezou OS Holdings Co. (3756 JT), which is offering 70,000 yen per share, according to statements by both companies yesterday. Mamezou OS shares jumped 6.3 percent to 101,000 yen.

Nachi-Fujikoshi Corp. (6474) (6474 JT), a bearing maker, climbed 5.9 percent to 357 yen. The company extended gains after saying net income jumped 86 percent to 7.11 billion yen in the nine months ended Aug. 31 on growing sales and cost cuts.

Nomura Real Estate Holdings Inc. (3231) (3231 JT) advanced 4.9 percent to 1,168 yen. The developer may beat its fiscal-year target by 500 condominium units, generating about 25 billion yen in additional sales, the Nikkei newspaper said, citing President Kamezo Nakai.

OSG Corp. (6136) (6136 JT), a machine-tool maker, surged 12 percent to 978 yen. Net income advanced 44 percent to 4.14 billion yen in the nine months through August, buoyed by growing overseas sales. The company also said it will spend up to 2.5 billion yen to buy back as many as 3.47 percent of its total shares.

Ryohin Keikaku Co. (7453 JT), the operator of the Muji retail chain, tumbled 10 percent to 3,845 yen. The company said net income in the six months ended Aug. 31 rose 27 percent to 4.22 billion yen, 2.1 percent less than the retailer’s forecast.

Softbank Corp. (9984) (9984 JT), Japan’s third-largest mobile- phone carrier, climbed 6.5 percent to 2,456 yen, extending earlier gains after saying it will begin taking orders for Apple Inc.’s iPhone 4S today. The carrier also rose after KDDI Corp. (9433), which will compete with Softbank in offering the iPhone, set a 13 percent higher price for unlimited wireless data downloads. KDDI advanced 1.4 percent to 568,000 eyen

KDDI “has started out by avoiding price,” Goldman Sachs Group Inc. said in a report today. “This should prevent a sharp narrowing of revenue growth potential.”

Sony Corp. (6758) (6758 JT), Japan’s biggest exporter of consumer electronics, lost 3.7 percent to 1,415 yen. Sony is getting closer to an agreement to buy Ericsson AB’s stake in their mobile-phone venture, the Wall Street Journal reported, citing people familiar with the matter. Nomura Holdings Inc. separately cut Sony’s equity rating to “neutral” from “buy.”

Yonekyu Corp. (2290) (2290 JT), a maker of processed meat products, soared 8 percent to 634 yen, the biggest rise since April 2009. The company said first-half net income advanced 46 percent to 739 million yen. The company also said it will buy back as much as 6.03 percent of its outstanding shares through Dec. 30.

To contact the reporter on this story: Norie Kuboyama in Tokyo at nkuboyama@bloomberg.net

To contact the editor responsible for this story: John McCluskey at j.mccluskey@bloomberg.net.

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